Describe the concept of global economy.
Concept of global economy
According to Oxford Dictionary, “the economies of the world’s individual countries considered together as a single economic system.” (“global economy | Oxford Dictionaries”, 2015). This is a concise definition of global economy which provides an overview of its broader concept. Global economy concept tries to bring the economies of the world together to make a single economy. The concept is quite astonishing for me as I think that this uniqueness may not be possible due to the economic interests of different countries and corporations that may be in conflict with each other. They may want to keep the economies of the world in different patches so that their economic benefits are safeguarded.